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Crypto exchange Binance to wind down futures and derivatives offerings in Europe

Major cryptocurrency exchange Binance said on Friday it would wind down its futures and derivatives products offerings across Europe, a move that comes after unprecedented pressure from regulators across the world.

FILE PHOTO: Binance app is seen on a smartphone in this illustration
FILE PHOTO: Biance app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

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LONDON: Major cryptocurrency exchange Binance said on Friday it would wind down its futures and derivatives products offerings across Europe, a move that comes after unprecedented pressure from regulators across the world.

Binance users in Germany, Italy and the Netherlands will, with immediate effect, not be able to open new futures or derivatives products accounts, the exchange said in a statement on its website.

(Reporting by Tom Wilson; Editing by Tom Arnold)

Source: Reuters